2016 the year Latin America rejected the neo-socialists

Better days for the socialistas.

It’s been a weird political year south of the US border. The Peronists in Argentina lost.  Dilma was kicked out of the Brazilian presidency. Venezuela plunged totally into economic chaos induced by the current Chavista government. And now the rejection of the FARC deal in Columbia. Things have not gone well for the lefties, and it doesn’t look like they will be seeing much relief anytime soon.

The Pink Tide has ebbed and continues to ebb.

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Kirchner Official Caught Burying Millions Outside Convent (Argentina’s crony capitalists on the run)

Obama and Kirchner cuddling during happier times.

As reality takes hold in South America and as the socialists/crony capitalists are sent scurrying to the hinterlands the wreckage of the cronies is being unearthed – literally.

With the change in government sweetheart deals are no more. Connections once worth millions have evaporated. Laws which could be broken with impunity are now valid again. Hell has to be paid.

(From Bloomberg)

Jose Lopez, who served as public works secretary under ex-President Cristina Fernandez de Kirchner and her late husband,

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Donald Perón Versus Evita Clinton

This comes from a friend of ACC who knows better than almost anyone the folly and tragedy of a cronyist political system. Alejandro Chafuen is an Argentine.

Argentina, few Americans know, once had a higher standard of living than the US. It was a place to do business. It was a rising power. But what happened?

Crony capitalism, aka in Argentina, Peronism.

(From Forbes)

When people mention “Argentina” in negative terms,

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Argentina Bolts Toward Free Market Reforms

We are cautiously optimistic about Argentina. Macri looks like he’s headed in the right direction, that is away from Peronism, a truly crony philosophy of government is there ever was one.

He is being swift and he is being decisive. This is exactly what must be done.

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Argentinean Libertarians Point Out Macri’s Big Government Credentials

The victory over the Peronists in Argentina is clearly a victory for the Argentine people and for freedom generally. However, Macri comes to power with much to prove. Will he break with the cronyist system which is so entrenched in Argentina? Can he?

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Maybe Pope Francis Doesn’t Understand Capitalism Because He Confuses It with Argentine Corporatism

I listened to the Holy Father’s speech today and I thought it was quite good. He didn’t drop any bombs in the House chamber. (Perhaps he’s saving them for the UN General Assembly.) He seemed generally respectful and the kind of priest I wouldn’t have minded listening to on Sunday morning. He struck me as warm. As we’ve said before, we quite like Pope Francis on many levels, but his economics could use some work.

We are not the only ones who feel this way.

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Will the Pope Attack “Capitalism” on His Trip to US?

In many respects I quite like Francis. His economics however could use some real work.

Having grown up Catholic, and with a mother enamored with the “peace and justice” movement  and who was also very active within the Church, I think I have a reasonably good concept of where this pope is coming from on the issue of capitalism. He sees it as oppressive, not a tool for liberation, and this is a terrible shame.

I believe that the pope is most concerned with “crony capitalism”

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Latin American socialists (and crony capitalists) are in political free fall

Graffitti from the pro-market protests in Brazil. The largest protests in that country for 30 years.

The Chavistas are in trouble. Brazil is boiling, Argentina is an ongoing basketcase, and in relatively functional and prosperous Chile the voters are rethinking their move to the Left.

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Argentine workers walk out in general strike over taxes

Brazil and Argentina. Both in trouble.

Looks like the South American socialism experiment isn’t working out so well. Venezuela, Brazil, Argentina, the 3 biggies are all floundering economically, big time.

Perhaps Hernando DeSoto the Peruvian free market economist should hold a weekend retreat for the leaders of these countries and school them on how to create wealth and opportunity instead poverty and despair. Just an idea.

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Argentina and 10 More Countries Near Bankruptcy

I remember back during the the big Argentine default of 2001 I was on an overseas real estate website and I saw a piece of land which was literally the size of Delaware for sale for $1,000,000 US. I remember thinking that even if the land was deep in the barren steppe of Tierra del Fuego it still had to be a deal at that price. There would have to be minerals under there of some sort. All I had to do was find 1 million dollars.

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